# Barbados — payment codes and schemes

> Source: https://docs.barcoder.ai/docs/payments/BB
> extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

## Summary

- **mMoney** Bitt digital wallet
- **20K consumers** 2K merchants
- **Digital Dollar** planning
- **Instant payments** 2026 target
- **DCash** ECCB participation

## Banking landscape

### Central Bank
- **Name:** Central Bank of Barbados
- **Website:** https://www.centralbank.org.bb/
- **Role:** Monetary policy, payment oversight

### Major Banks (2024)

| Rank | Bank Name | Type | Digital Platform |
|------|-----------|------|------------------|
| 1 | Republic Bank | Regional | Republic App |
| 2 | First Caribbean | Regional | CIBC Mobile |
| 3 | Scotiabank | International | Scotia App |
| 4 | CIBC | International | CIBC Mobile |
| 5 | Bank of Butterfield | Offshore | Butterfield App |

### Market Structure
- **mMoney:** Bitt platform
- **BBD:** Pegged to USD 2:1
- **Tourism:** Major economy
- **Fintech:** Growing sector

---

## Payment infrastructure

### National Payment Systems

| System | Operator | Type | Status |
|--------|----------|------|--------|
| mMoney | Bitt | Digital wallet | Active |
| CBDC planning | Central Bank | Digital Dollar | Development |
| ACH | Banks | Clearing | Active |
| Card networks | Visa/MC | Cards | Active |

### mMoney Platform
- Bitt Inc. operated
- 20,000+ consumers
- 2,000+ merchants
- QR code payments
- Mobile wallet

### Instant Payment Plans
- 2026 target launch
- Real-time settlement
- Modernization effort
- Central Bank led

---

## QR code standards

### mMoney QR

| Attribute | Value |
|-----------|-------|
| **Provider** | Bitt |
| **Feature** | Scan to pay |
| **Users** | 20K+ |
| **Merchants** | 2K+ |

### mMoney QR Features
- QR code generation
- Merchant scanning
- Instant transfer
- No cash needed
- Mobile-first

### DCash Participation

| Attribute | Value |
|-----------|-------|
| **Provider** | ECCB |
| **Type** | CBDC |
| **Region** | Caribbean |
| **Status** | Pilot ended |

---

## Mobile payment apps

| App | Provider | QR | Features |
|-----|----------|-------|----------|
| mMoney | Bitt | Yes | Full wallet |
| Bank Apps | Various | Limited | Banking |
| DCash | ECCB | Yes | CBDC (ended) |

### mMoney Features
- P2P transfers
- Bill payments
- Merchant payments
- QR scanning
- Government payments

### Digital Dollar Plans
- Central Bank initiative
- Building on mMoney
- Barbados Digital Dollar
- Future implementation

---

## Schemes

| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| [mMoney QR](https://docs.barcoder.ai/docs/payments/BB/mmoney-qr) | Wallet | Bitt | 20K+ users | [`mmoney`](https://docs.barcoder.ai/docs/standards/mmoney) |
| [Digital Dollar](https://docs.barcoder.ai/docs/payments/BB/digital-dollar) | CBDC | Planning | Development | — |
| [Bank ACH](https://docs.barcoder.ai/docs/payments/BB/bank-ach) | Clearing | Banks | Active | — |

## Sources

- [Central Bank of Barbados](https://www.centralbank.org.bb/)
- [Bitt Inc. - mMoney](https://www.bfranceelaw.com/fintech-policy-barbados/)
- [Loop News - Digital Payments](https://barbados.loopnews.com/content/barbados-fast-tracking-digital-payments)
- [IMF - Barbados Financial](https://www.imf.org/en/Countries/BRB)

## Full country report

[BB-barbados.md](https://docs.barcoder.ai/docs/payments/BB)